The gold pit created by ETF selling pressure and oil price panic, Kendrick's "new spring"—if it really arrives, those cutting losses now will probably be kicking themselves hard.

CryptoWorld News reports that Standard Chartered analyst Geoffrey Kendrick said that Bitcoin’s $59,000 low point may mark the bottom of the cycle. Kendrick believes the recent sell-off may have ended, with Bitcoin rebounding as it approaches $64,000. He attributes the weak market to ETF selling, liquidity pressure, and macro fears driven by oil prices. Standard Chartered maintains its $100,000 year-end Bitcoin target, and Kendrick expects these pressures to ease as the crypto market enters what he calls the “new spring.”